Member Info for FrankMini

Understood timbo and preemo, my comments primarily refer to the most reason SP increase - the last communication (podcast) revolved around the amount of time that needs to be invested in evaluating, planning and securing a deal.

From my perspective, although confirmation of a deal could land at any moment, we have not been mislead in any way, by the NUOG powers that be, to believe that it is going to be this week or next.

We waited 75 days for information regarding GHS; it arrived, maybe not in the way we all hoped but nothing is guaranteed and actually further infrastructure improvements it should provide long term results.

Although we all enjoy the soap opera of the BB from time to time, those who post "RNS today I can feel it" or "must be in a day or two" are speculating and adding more fuel to this fire than any official communication.

Mark it seems like we have shared sentiment with regards to share price fluctuation - the one time that the destination counts for more than the journey.

A bit confused here, so obviously everyone was buoyed on Friday with what seemed to be mounting speculation of the proximity of a deal being announced.

Since then the SP has gone from 0.95 to around 1.20 and back to 0.97 - in all this time there have been no official releases of market sensitive information.

Therefore why is the BOD responsible for market fluctuations, if the share price jumps 15% and back again it doesn't mean that they are doing a bad job.

"So what about the lack of communication" - in my book you only communicate if you have something to say, especially when it is regulated. Communicating to appease itchy fingered holders is not part of their job, delivering the appropriate updates at the relevant times is. How many times has Simon been criticised for posting 'useless non-RNS tweets', they are damned if they do and damned if they don't.

Where does this leave us, if you believe in the companies future then hold or buy, if you don't then sell. Simple.

Bart Heijermans ceased being the MD of OSX3 Leasing BV in August according to his Linkedin after 4 years in charge:

Managing Director

Company Name OSX3 Leasing BV
Dates Employed Sep 2014 – Aug 2018 Employment Duration4 yrs
Location The Netherlands

OSX3 Leasing BV owns the OSX3 FPSO operating in the Tubarao Martelo (Waikiki) field located in the BM-C-39 and BM-C-40 blocks of the Campos Basin, offshore Brazil. The FPSO is moored in approximately 110 meters water depth and has a storage capacity of 1.3 million barrels. The platform is capable of processing 100,000 BOPD of heavy oil from the Campos Basin reservoir. OSX3 Leasing BV is a shareholder of Dommo Energia SA (www.dommoenergia.com.br)

Cheers Rockets - I appreciate the scathing review, happy to be wrong here, I am a fan of Simon.

What I hear and what I fully believe are two different things.

Also gggg12 - thanks for your support, I will continue to trawl the web for anything useful!

Word on the grape vine is that Simon left NUOG in the past couple of days.

Irrelevant really but thanks.

Not shifting, no way am I wanting to 'trade' on this share - holding for results.

Another comment...

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As estrangeiras ainda não entraram na compra.

"The foreigners have not entered the purchase yet."

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Prepare-se para notícias de tubarão.

"Get ready for shark news."

I am picturing Simon with a Portuguese dictionary pulling his hair out!

Maybe preparing for some news?? *fingers crossed*

If they have to coordinate it with Brazil then I would expect any RNS to be posted midday unless over the weekend.

Sorry 1400 is more realistic.

Communication at 1230hrs?

"#DMMO3 The next step is for OSX to exercise its TM option and sell to Nuog."

http://www.guiainvest.com.br/mural/default.aspx?sigla=dmmo3&publicacao=939821

Yes there was quite a bit of talk in Brazilian circles about this - taken from a BB (and translated):

"21.605 -Pimco is a group of shareholders. Holds 28.01% of Dommo. Settlement Shareco is another group. It now has 42% of the Company.

Then there are stakeholder groups interested in Dmmo3 - important for all of us sardines investors, we move on."

"Next move from the Osx 3 Leasing Group Bv is to ask the FPSO back and rent it to someone who pays a fair value as it is under-used in Hammer Shark.

They will do this as soon as they find a buyer for the field."

And your opinion Mark on where we are down the line?

You are an insider on the what rather than the when so it would be interesting to know where you would place us.

Really?! A bit immature don't you think?

"Are we there yet???"

Yes, that is exactly what I took away from it - no "of course this couldn't happen because..." or "this is nonsense" etc.

Interesting detail in their latest RNS, primarily the 'evaluates alternatives':

In 2Q18 the production in Hammer Shark Field was 615.7 kbbls, 10.8% less than 1Q18
and 12.8% lower than in 2Q17. The lower volume produced is a result of the natural
wells and problems in the submerged centrifugal pump of the 7-TBMT-2HP well, which culminated in
interruption of its production on June 29, 2018. The Company evaluates alternatives for
production of well 7-TBMT-2HP.

Clearly if this is the Brazilian opportunity then the current field operator is sitting on lower production values and an uncertain financial situation. Just waiting for a 'better alternative' in my opinion, this could easily be a consortium of companies that has the expertise to reduce costs and increase production.